Argentina central bank sells $1.472 bln, largest intervention in years

Argentina’s central bank sold $1.472 billion on the local spot market on Wednesday, its largest intervention in currency markets in at least 15 years after the peso weakened against the dollar in recent sessions.

The bank has frequently intervened to prop up the peso in recent months as a weaker currency could spur inflation in a country that has long lived with double-digit increases in consumer prices. It has sold more than $4 billion since March.